The aerospace and defense complex is one of the only industries that can boom during both uncertainty and economic expansion. This has certainly been the case during the pandemic, as spending on warplanes, weapons and security systems continues to rise. All in all, defense spending seems to be one of the few issues that is truly bipartisan – and that’s been a boon for our latest Best Dividend Growth Stocks Model Portfolio pick.
Our pick is one of the largest defense contractors out there, featuring a portfolio of various aerospace and weapons programs, including many that Uncle Sam and other friendly governments want in their arsenal. So much so that the firm recorded nearly $65 billion in revenues last year. With a hefty backlog of contract wins and continued growth, our pick has also become one of the largest dividend payers in the sector. In addition to its strong buyback allotment, our pick recently raised its dividend payout by 7.7%.
All in all, with Uncle Sam picking up the tab, our pick has plenty of runway for future growth and income opportunities.
You can check out the Best Dividend Stocks Model Portfolio to explore all the stocks.
